17,000 BTC sent to exchanges on Jan. 20–21; Bitcoin tests $89K–$90K resistance

On Jan. 20 and Jan. 21, exchanges received over 17,000 BTC, coinciding with a failed rally near $90,000. Netflow has since normalized to +296 BTC, but inflows leave a supply overhang as price retests the $89,000–$90,000 area. Spot metrics have improved, yet buying strength appears insufficient to clear resistance.